Date
Tue, 27 May 2014
Time
15:45 - 16:45
Location
L4
Speaker
Elizabeth Baldwin
Organisation
Oxford

Auctioneers may wish to sell related but different indivisible goods in

a single process. To develop such techniques, we study the geometry of

how an agent's demanded bundle changes as prices change. This object

is the convex-geometric object known as a `tropical hypersurface'.

Moreover, simple geometric properties translate directly to economic

properties, providing a new taxonomy for economic valuations. When

considering multiple agents, we study the unions and intersections of

the corresponding tropical hypersurfaces; in particular, properties of

the intersection are deeply related to whether competitive equilibrium

exists or fails. This leads us to new results and generalisations of

existing results on equilibrium existence. The talk will provide an

introductory tour to relevant economics to show the context of these

applications of tropical geometry. This is joint work with Paul

Klemperer.

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